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Dec 31, 2020
PennyMac Q4 2020 Earnings Report
PennyMac Mortgage Investment Trust reported strong fourth-quarter results driven by record conventional production.
Key Takeaways
PennyMac Mortgage Investment Trust reported a net income attributable to common shareholders of $76.6 million, or $0.78 per common share on a diluted basis, for the fourth quarter of 2020. The results were driven by record conventional production and a continued recovery in the fair value of GSE credit risk transfer investments.
Net income attributable to common shareholders was $76.6 million.
Book value per common share was $20.30 at December 31, 2020.
Record conventional correspondent loan production volumes of $38.0 billion in UPB, up 39% from the prior quarter and up 85% from the fourth quarter of 2019.
Added $441 million in new MSRs.
Revenue by Segment
Forward Guidance
PMT continues to invest in high-quality MSR assets as a result of the record production from the largest correspondent aggregator in the mortgage industry.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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